41-07 54th St - Apartments FOR SALE


Woodside, NY 11377 | 
$1,500,000 USD
212-430-5100
41-07 54th St, Woodside, NY for Sale
$1,500,000 USD
Apartments - FOR SALE
1/8
null | 9.5% Cap Rate

41-07 54th St
Woodside, NY 11377


HIGHLIGHTS

  • Six-unit multifamily asset in the established Woodside neighborhood of Queens.
  • Five free-market apartments provide operational flexibility and income potential.
  • Recent improvements include roof replacement, gas conversion, and exterior waterproofing.
  • Located two blocks from the 7 subway line with direct access to Midtown Manhattan.
  • Positioned between Roosevelt Avenue and Skillman Avenue near neighborhood retail and services.
  • Long-term ownership history with opportunities for future value enhancement through lease-up.

OVERVIEW

41-07 54th Street offers investors a well-maintained, six-unit multifamily property in the heart of Woodside, Queens. The 6,075 gross-square-footbuilding features six two-bedroom apartments, including five free-marketunits and one rent-stabilized unit. Recent capital improvements include a roof replacement, conversion to gas, and parapet and brick waterproofing. Each Free Market unit was destabilized via High Rent Vacancy + IAI/MCI's . Property has been meticulously maintained by singular ownership for 50 years. Centrally located between Roosevelt Avenue and Skillman Avenue - only 2 block from 7 Train Subway Station. 50% Vacant With three units currently vacant and potential first-floor expansion, the property offers clear near-term lease-up and rental upside and strong long-term growth potential. For investors, 41-07 54th Street presents a compelling opportunity to acquire a quality multifamily asset in a highly connected Queens neighborhood. The property combines a strong central location with clearlease-up and rental upside.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$247 USD /SF

# OF UNITS

6

PRICE/UNIT

$250,000

CAP RATE

9.5%

% LEASED

50%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

41-07 54th Street

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

R5D

APN/PARCEL ID

01317-0080

ASK ABOUT THIS PROPERTY

David CornejoMarcus & MillichapMore Info
212-430-5100

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David CornejoMarcus & MillichapMore Info
212-430-5100

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.